How to use your side hustle money to buy a house.
In this video, I explain how to get your side hustle money included when you are trying to buy a house.
Any side hustle that is not a W2 hourly or salaried job such as Uber or Lyft, food delivery gigs like GrubHub or Door Dash, and any other service you provide like doing hair or catering, etc., where you are paid in cash or through an app normally cannot be counted as income when you are trying to buy a house.
Even with a 2-year history of successfully doing your side hustle, underwriters do not include this income because it is treated like self-employment income.
Usually the expenses associated with your side hustle are written off against the income you make.
This can be very disheartening when you are working hard to buy your own home. It’s easy to become frustrated and think you’re not making any progress and want to give up on your home ownership dream.
I go over how to keep up with your money and how to get credit for your side hustle income when it comes to getting a mortgage.